ESG at Namdev Finvest
Namdev Finvest Private Limited recognises the importance of having a responsible ESG framework since it is capable of positively or negatively impacting the entire stakeholders of the Company both external and Internal - Customers, employees, Investors, Lenders, Vendors, Other stakeholders, and the Community at large.
ESG integration allows NFPL to align with evolving global as well as national regulatory requirements, and manage risks associated with credit, operations and other risks therefore creating long-term value aligning with sustainable development.
Green Financing
Green financing at Namdev Finvest represents a holistic approach to integrating environmental stewardship into financial practices. By supporting a diverse range of sustainable products like EVs and solar, Namdev Finvest aims to drive positive environmental change and contribute to a more sustainable future.
Solar Energy
Solar energy plays a vital role in offering a sustainable and renewable source of energy. Namdev Finvest acknowledges this significance and supports the transition to cleaner energy by providing financing for rooftop solar panel installations.
| Year | Annual CO₂e emission reduction (In metric tons) |
|---|---|
| 2021-2022 | ~44 |
| 2022-2023 | ~146 |
| 2023-2024 | ~915 |
E-Rickshaw Funding
E-rickshaws are essential for cutting urban air pollution and advancing eco-friendly transportation. Namdev Finvest supports this shift by offering financing for e-rickshaws.
| Year | Annual CO₂e emission reduction (In metric tons) |
|---|---|
| 2022-2023 | ~3,940 |
| 2023-2024 | ~47,826 |
Plantation Drive
Namdev Finvest started a plantation drive in FY23 aimed at planting approximately 10,000 trees with a goal of promoting a healthier environment. Till Aug’24, Namdev Finvest has distributed approximately 6000 plants to students across government schools, Hospitals, police stations, Orphanages and Employees of Namdev Finvest.
This initiative is designed to foster environmental awareness among young students and support a greener future.
Waste Management
Before
After
Electronic waste(E-waste) generated by the Company is disposed of via the concerned State Pollution Control Board (SPCB) registered recycler. The Company ensures that no hazardous electronic waste is sent from the Company to the landfill.
Two separate bins are provided to ensure segregation of wet waste and dry waste in the office leading to efficient solid waste management.
Employees are encouraged to minimise paper usage by choosing digital alternatives and printing on both sides of the paper.
All the plastic bottles and cups are replaced with metal/glass bottles and cups ensuring effective management of plastic waste.
Environment Goals
100% E-waste recycling through registered recyclers by pollution control boards
Consistently monitoring the organisation's carbon footprint to effectively reduce emissions.
Eliminating the use of single-use plastic in all operations therefore making NFPL a plastic-free zone
NFPL’s new head office, built to green standards
- will feature 150 kW solar panels saving approximately 232 tons of CO₂ annually
- A 5,000 sq ft rainwater harvesting system estimated to collect around 187,600 litres per year
- Sensor-based lighting, natural ventilation, and fire safety measures for enhanced efficiency and security
Empowering Women
For Women Customers
NFPL offers a 1% combined waived Processing fee (PF) and Rate of Interest (ROI) for Primary Women Customers who are individually or jointly running the business. It applies to all NFPL products and locations.
POSH For Our Employees
NFPL rigorously adheres to the guidelines and provisions outlined in the Prevention, Prohibition, and Redressal of Sexual Harassment (POSH) Act, 2013. NFPL via its IC Committee ensures that the company maintains a safe and respectful workplace environment.
GAP – Gender Action Plan
Our Gender Action Plan (GAP) 2024–2029, specifies how Namdev Finvest will promote gender equality across its programmes and workplaces. It affirms that promoting gender equality and the empowerment of women and girls is the responsibility of everyone, regardless of organisational role.
ESG Training
Regular awareness training and branch reviews on ESG compliance is conducted on a monthly basis. All Namdev employees have undergone training on implementing ESG practices both in operations and within the office environment.
Awareness
NFPL has placed banners and posters on its premises to raise awareness about judicial water and electricity consumption, waste management, labour laws, fire safety plans, and POSH awareness. On the occasion of World Environment Day, we organised a photography competition focusing on raising awareness about environmental issues. Participants were encouraged to capture photos that conveyed messages related to environmental awareness. Awards were given to the photographs that best communicated these important messages.
Activities
As part of our commitment to environmental awareness and sustainability, we also organised a Departmental-wise "Best Out of Waste Competition" in celebration of World Environment Day. Accounts Team, IT & Software Team and Compliance Team secured first, second and third positions respectively.
ESG Governance Structure
At Namdev Finvest Private Limited (NFPL), governance is a cornerstone of our ESG (Environmental, Social, and Governance) strategy. Our governance framework is designed to ensure accountability, transparency, and ethical behaviour across all levels of the organisation. The ESG framework includes formalization of the accountability for ESG implementation and compliance. The Company has set up an Advisory committee meeting– a management-level committee comprising of min two Directors and Senior Management who are primarily responsible for the implementation of the ESG framework including formulation of policies and processes to enable the implementation of ESG structure across the Company. This Committee would report to the Board of directors.
- At Namdev, we are committed to fostering diversity and inclusion within our leadership teams. Currently, our board of directors has a 20% representation of women.
- In senior leadership roles, women represent 38% of the team. This is a significant achievement and demonstrates our ongoing efforts to support and advance women in leadership positions.
- We continue to strive for greater balance and are dedicated to implementing strategies that promote gender equity across all levels of the organisation.
Robust Governance Practices
- We have implemented robust cybersecurity measures, including encryption, multi-factor authentication, and regular security audits to protect customer and company data.
- NFPL has established a range of key policies to uphold ethical standards and safeguard its operations. The Anti-Corruption Policy ensures a strict stance against bribery and corruption, promoting transparency and legal compliance. The IT Security Policy focuses on protecting the company's information technology systems and data from security threats. Additionally, the Whistle-Blower Policy provides a confidential channel for employees and stakeholders to report unethical conduct or policy violations, ensuring their protection from retaliation. Together, these policies support NFPL's commitment to integrity, security, and ethical behaviour.
- Namdev Provides fair and transparent processes for resolving disputes and grievances within the workplace and ensures employees have access to information related to their rights, responsibilities, and organisational policies. Namdev has implemented a robust grievance redressal mechanism within the company to safeguard the rights of customers.
- At Namdev, we are dedicated to upholding the highest standards of client protection. Our Client Protection Policy is designed to ensure the safety, privacy, and respect of our clients while maintaining transparency and accountability in all our business practices.
Governance Goals
- We are committed to benchmarking our ESG performance against industry leaders and adopting best practices. Our goal is to ensure transparent and timely reporting of ESG disclosures and scores in the FY 2024-25
- Establish a continuous improvement loop for our ESG initiatives to keep them effective and relevant. This process involves regularly reviewing feedback and performance data to make informed adjustments and enhancements.8. Policy Development
- Review and update our ESG policies to ensure they are aligned with the latest regulatory requirements and industry best practices.
Secured & Responsible Lending
NFPL integrates ESG factors into lending decisions throughout the credit process. Every project before lending a loan goes through screening for potential ESG risks including compliance with national or local environmental laws, social or labour laws ensuring ESG compliance, and devising improvement strategies.
Our ESG Policy and Environment Social Management System
- Our Environmental Social Management System (ESMS) is meticulously crafted in alignment with the IFC performance standards. It encompasses our ESG policy, risk assessment, impact management plans and programs, organisational capacity and competency, emergency preparedness and response plans, stakeholder engagement strategies, grievance redressal mechanisms, and continuous monitoring and review processes.
- Implementing an ESMS offers numerous advantages, including enhanced risk management by identifying and mitigating environmental and social risks to safeguard our operations and reputation. Adhering to international standards fosters trust among stakeholders, such as investors, customers, and the community, thereby enhancing the company’s credibility. Additionally, integrating ESG principles promotes sustainable growth by ensuring the company’s development is environmentally and socially responsible. Streamlined processes and preparedness plans further improve overall operational efficiency and resilience.
ESG Policy
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